I mentioned recently in one of my Bitcoin + Altcoins Market Update one of our simple strategies.
We buy when the market is slow and red, to later sell when the market is fast and green.
Many people tend to wait for the "action" to start in order to buy in.
Many people wait for certain conventional "confirmations" which are not the wisest options when it comes to trading cryptocurrency, specially altcoins.
We buy before the breakout!
The reason for this can be seen in the chart above.
RCNBTC Broke up and generated 64% gains in just one big green candle. If you are waiting for confirmation it is already too late, a huge portion of our potential profits is gone. So we buy before the breakout.
We look for bottomed out altcoins, buy low near support, wait patiently and profit all the way up!